ILLUMINA, INC. (ILMN) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.22

$1.20$1.26

vs $1.19+2.9%

16 analysts

Next Qtr

$1.37

$1.29$1.43

vs $1.34+2.1%

16 analysts

Current Yr

$5.23

$5.14$5.31

vs $4.84+8.0%

18 analysts

Next Yr

$5.92

$5.61$6.26

vs $5.23+13.3%

19 analysts

Revenue Estimates

Current Qtr

$1.13B

$1.12B$1.14B

vs $1.06B+6.7%

15 analysts

Next Qtr

$1.14B

$1.13B$1.16B

vs $1.08B+5.5%

15 analysts

Current Yr

$4.57B

$4.54B$4.61B

vs $4.34B+5.2%

17 analysts

Next Yr

$4.82B

$4.73B$4.92B

vs $4.57B+5.6%

17 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for ILMN on EDGAR.

ILMN filing events and research context
Filed	Item	Context
May 4, 2026	mda_quarterly	Illumina reported Q1 2026 revenue of $1,091 million, a 5% increase driven primarily by strong demand for NovaSeq X instruments and consumables. Operating margins expanded to 19.2% from 15.8% in the prior year, while gross margin rose slightly to 66.1%. A key strategic expansion was the January 2026 acquisition of SomaLogic for $460 million, which advances the company's multiomics strategy by integrating high-throughput proteomics technology. Despite these gains, the company faces significant geopolitical and macroeconomic headwinds. Inclusion on China's unreliable entities list resulted in a $20 million revenue decrease in the Greater China region. Additionally, IEEPA-related tariffs on imports from Singapore have increased costs, though Illumina is currently seeking administrative refunds. Other pressing risks include rising memory chip costs, increased freight and energy expenses stemming from instability in the Middle East, and reductions in U.S. government funding for the NIH. Liquidity remains robust with $1,089 million in cash and cash equivalents, supported by $104 million in proceeds from the sale of GRAIL investments. To return capital to shareholders, the Board authorized a new $1.5 billion share repurchase program in April 2026.
Feb 12, 2026	business	Illumina provides sequencing- and array-based solutions serving research, clinical, and applied markets, including life sciences, oncology, reproductive health, and agriculture. Following the June 2024 spin-off of GRAIL, the company’s revenue model is heavily weighted toward consumables, particularly sequencing consumables, which drive the majority of product revenue alongside instrument sales. The customer base spans academic institutions, government laboratories, and the pharmaceutical and biotechnology sectors. While the Americas remain the primary geographic driver, international sales constitute a significant portion of total revenue. The company faces several critical risks, including rapid technological obsolescence and intense competition. Financial performance is sensitive to shifts in U.S. government research funding, specifically from the National Institutes of Health. Geopolitical risks are prominent, highlighted by Illumina's inclusion on China’s unreliable entities list, which may impact regional operations. Furthermore, the company manages supply chain concentration risks stemming from a reliance on single-source vendors for customized components. Recent financial volatility has been characterized by substantial goodwill and intangible asset impairments associated with the GRAIL divestiture and the subsequent revaluation of its remaining interest.
Feb 12, 2026	mda	Following the 2024 spin-off of GRAIL, Illumina operates as a single reportable segment, Core Illumina. The company is advancing its multiomics strategy through the $350 million acquisition of SomaLogic assets from Standard BioTools, completed in early 2026. In 2025, total consolidated revenue was $4.34 billion, a 1% decline from 2024. Core Illumina revenue remained relatively flat, characterized by a 2% increase in consumables ($3.23 billion) driven by NovaSeq X demand, which was offset by a 4% decline in instrument revenue ($482 million) as customers managed capital more conservatively. Core Illumina gross margin decreased to 66.1% due to higher tariff costs and a $23 million intangible asset impairment. Significant regional headwinds include being added to China’s "List of Unreliable Entities," causing a $65 million revenue impact in Greater China, alongside reduced U.S. NIH funding. To counter these challenges and macroeconomic volatility, Illumina implemented a $100 million cost-reduction program and continues to execute a $1.5 billion share repurchase program. The company maintains a strong liquidity position with $1.63 billion in cash and short-term investments to fund operational needs and strategic initiatives.

Filed

Item

Context

May 4, 2026

mda_quarterly

Illumina reported Q1 2026 revenue of $1,091 million, a 5% increase driven primarily by strong demand for NovaSeq X instruments and consumables. Operating margins expanded to 19.2% from 15.8% in the prior year, while gross margin rose slightly to 66.1%. A key strategic expansion was the January 2026 acquisition of SomaLogic for $460 million, which advances the company's multiomics strategy by integrating high-throughput proteomics technology. Despite these gains, the company faces significant geopolitical and macroeconomic headwinds. Inclusion on China's unreliable entities list resulted in a $20 million revenue decrease in the Greater China region. Additionally, IEEPA-related tariffs on imports from Singapore have increased costs, though Illumina is currently seeking administrative refunds. Other pressing risks include rising memory chip costs, increased freight and energy expenses stemming from instability in the Middle East, and reductions in U.S. government funding for the NIH. Liquidity remains robust with $1,089 million in cash and cash equivalents, supported by $104 million in proceeds from the sale of GRAIL investments. To return capital to shareholders, the Board authorized a new $1.5 billion share repurchase program in April 2026.

Feb 12, 2026

business

Illumina provides sequencing- and array-based solutions serving research, clinical, and applied markets, including life sciences, oncology, reproductive health, and agriculture. Following the June 2024 spin-off of GRAIL, the company’s revenue model is heavily weighted toward consumables, particularly sequencing consumables, which drive the majority of product revenue alongside instrument sales. The customer base spans academic institutions, government laboratories, and the pharmaceutical and biotechnology sectors. While the Americas remain the primary geographic driver, international sales constitute a significant portion of total revenue. The company faces several critical risks, including rapid technological obsolescence and intense competition. Financial performance is sensitive to shifts in U.S. government research funding, specifically from the National Institutes of Health. Geopolitical risks are prominent, highlighted by Illumina's inclusion on China’s unreliable entities list, which may impact regional operations. Furthermore, the company manages supply chain concentration risks stemming from a reliance on single-source vendors for customized components. Recent financial volatility has been characterized by substantial goodwill and intangible asset impairments associated with the GRAIL divestiture and the subsequent revaluation of its remaining interest.

Feb 12, 2026

mda

Following the 2024 spin-off of GRAIL, Illumina operates as a single reportable segment, Core Illumina. The company is advancing its multiomics strategy through the $350 million acquisition of SomaLogic assets from Standard BioTools, completed in early 2026. In 2025, total consolidated revenue was $4.34 billion, a 1% decline from 2024. Core Illumina revenue remained relatively flat, characterized by a 2% increase in consumables ($3.23 billion) driven by NovaSeq X demand, which was offset by a 4% decline in instrument revenue ($482 million) as customers managed capital more conservatively. Core Illumina gross margin decreased to 66.1% due to higher tariff costs and a $23 million intangible asset impairment. Significant regional headwinds include being added to China’s "List of Unreliable Entities," causing a $65 million revenue impact in Greater China, alongside reduced U.S. NIH funding. To counter these challenges and macroeconomic volatility, Illumina implemented a $100 million cost-reduction program and continues to execute a $1.5 billion share repurchase program. The company maintains a strong liquidity position with $1.63 billion in cash and short-term investments to fund operational needs and strategic initiatives.

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ILMN filing events and research context

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